P.K.RATH, chairman and general manager of rashtriya ispat nigam ltd (rinl) visacapatnam steel, said demand for steel in india shrank by 6-7 percent in the first quarter and inventories of steel mills rose sharply, foreign media reported. p.k.rath said india had eased some industry blockades since april 20th, while the government’s recent announcement of infrastructure investment projects would significantly accelerate the recovery of the steel market. The government will invest 111 trillion rupees ($1.5 trillion) in infrastructure projects over the next five years. rath also said the Indian government should take preventive measures to protect the steel industry and prevent other countries from dumping steel into India, and suggested raising import tariffs and anti-dumping tariffs. rinl is one of india’s largest steel mills, affected by the epidemic, rinl has stopped production of two of the three blast furnaces, steel backlog of 800000 tons.
Post time: May-13-2020